FHFA: House Price Increases Are Cooling
Summary
"High appreciation rates continued across housing markets during the first quarter of 2022," said William Doerner, Ph.D., supervisory economist in FHFAs Division of Research and Statistics. Through the end of March, higher mortgage rates have not yet translated into slower price gains, but new home sales have dropped during the last few months, with a significant falloff in April." Doerner said other economic indicators also suggest a potential softening, with a growing number of real estate listings where prices have been reduced. The FHFA HPI is the nation’s only collection of public, freely available house price indexes that measure changes in single-family home values based on data from all 50 states and over 400 American cities that extend back to the mid-1970s. FHFA uses a fully transparent methodology based upon a weighted, repeat-sales statistical technique to analyze house price transaction data.